Interim report January - September 2007
- The turnover for the first nine months increased by 14 percent to SEK 362.7 (317.8) million
- Results after tax for the first nine months was SEK -3.9 (13.8) million
- Results per share for the first nine months were SEK -0.12 (0.44)
- The turnover for the third quarter increased by 26 percent to SEK 125.9 (100.2) million
- Results after tax for the third quarter was SEK -4.6 (1.6) million
- Results per share for the third quarter was SEK -0.14 (0.05)
- Cash-flow from the current business for the first nine months was SEK 19.6 (29.7) million
KEY DEVELOPMENTS DURING THE THIRD QUARTER
Sales increased by 26% during the third quarter. The development has been especially good within the SAP segment in the US but also in Europe the trend has been positive. The encouraging development within this segment is a direct result of ReadSoft acquiring the SAP expert Ebydos in October 2006.
In September ReadSoft established a subsidiary in Benelux with headquarters in Amsterdam, Holland. With a growing number of partners as well as large, international customers in the area, ReadSoft want to take a more active role by the establishment of a subsidiary. With this addition ReadSoft now has operations 15 countries on four continents.
ReadSoft has signed a number of important agreements during the quarter. One of them where with the electric utility companyGreen Mountain Power. The company has implemented ReadSoft's solution for Oracle E-Business Suite. Green Mountain Power is committed to continuously improve its environmental performance, and so was attracted to a business solution that will reduce paper.
GMAC-RFC, the 10th largest mortgage lender in the UK, has invested over £350,000in ReadSoft DOCUMENTS for Mailrooms software to automate the processing of over 2.5 million documents per annum. The investment will enable GMAC-RFC to provide more efficient service to its intermediaries and customers and support future business growth.
The American biopharmaceutical companyCV Therapeuticshas chosen ReadSoft's SAP-certified solution to automate their purchase-to-pay process.
ReadSoft has worked with its North American partnerImaging Office Systems, to close over $300,000 in new business during the first 60 days of the quarter. The partnership between the two companies has resulted in increased efforts to market ReadSoft business solutions to the installed base and prospect base of Imaging Office Systems.
Read the entire report in the pdf attached
For more information contact President/CEO Jan Andersson +46-42-490 21 00, mobile +46-708-37 66 00 or VP Corporate Communication, Jonna Opitz at +46 42 490 21 08 or CEO Jan Bertilsson at +46 42 490 21 43. Please visit: www.readsoft.com